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When Liz was 21, she had a good life – a promising legal career, a 7-digit inheritance, and was one of the heirs to her father’s business empire. When she turned 22, however, she lost everything upon coming out to her family. It took a few pity parties, but she eventually picked herself up. Now, at 25, she’s working towards a $100,000 nest egg by the end of 2018. Her newly founded blog, Splurging on Freedom, is a reflection of what she has lost, and what she has learnt. It also chronicles her progress towards financial peace and freedom.

Welcome!

[2:38] Coming out takes a lot of guts- tons of people are afraid to do it because of how their families may react. Can you walk through your story?● Liz wasn’t too scared because she thought her family would be supportive..● After doing it, over the next few weeks her family tried to sit her down and make her “change her mind”● Her family was not supportive of her coming out and started threatening her about money● After asking for money back she was taken off the will but she was given a nominal amount● Liz is glad this happened early on in her life

[9:40] Your father created a business empire and significant wealth. I’m sure growing up you basically had everything you wanted? How your lifestyle change once you got cut off and what did are some of the changes you had to make?● Up till 21 Liz had everything she wanted, she went traveling multiple times a year● She got given $250,000 as a birthday present and she gave it back to her parents after they insisted● Liz realized that she had to change up her life as she went from a thousand to only a few hundred, she now only takes public transportation and has substantially cut back on her eating out● Stopped drinking alcohol and also stopped shopping sprees

[14:52] Tell us about what you’re doing today (career-wise) and what your plans are with your blog?● Works as analyst in small financial institution● Makes about $2,500 a month● Work life balance is good and Liz gets to leave the office at a reasonable time every day● Goal is to be flexible and to save money like her life depends on it

[18:46] You have a post on your website about why you gave up your dream apartment. For our listeners that haven’t seen it, can you tell us about why you gave up the apartment and what difference has that made to you today?● Wanted her own place for a while for financial freedom● Liz and her partner were eyeing an apartment for $800,000!● Down payment is 20% so about $160,000, at the time they had money saved up but not quite enough, however they looked into their month mortgage payment and it was about $2,600 a month● If they took the home they would live paycheck to paycheck● They realized it was crazy given the circumstances

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[27:16] What is your saving or retirement plan?● About $90,000 saved up● Expecting to save about $40,000 a year● Should reach FI when her nest egg reaches $300,000

[29:12] Do you have any other books or podcasts you can recommend?● Your money or your life● Millionaire teacher● Discover Your Destiny With The Monk Who Sold His Ferrari● The Ground Up Show● Chain of Wealth 🙂

[31:48] Favorite Quote?● If you are not content today there is nothing you can buy this weekend that will change that

A lot of you have been interested to know more this topic and it’s important for all of you to hear some pros and cons when making your decision between paying down your mortgage or investing the money.

Damion Lupo is the author of many books but we are going to talk mostly about his book called The QRP book today. Damion has actually appeared on the show before, where he has talked about how he went from being a multi-millionaire to being broke and building his net worth back up again.

Matthew Sullivan is the CEO and Founder of QuantmRE, a cryptocurrency startup that supports homeowners by helping them sell a fraction of the equity in their home without taking on more debt. A seasoned entrepreneur, Matthew has a proven track record in real estate innovation through his experiences as Co-Founder of the $50M Secured Real Estate Income Strategies Fund, and as Founder and President of Crowdventure.com, a real estate crowdfunding company.

Mike is a 30-something CEO, Blogger, and Forensic Scientist. On his blog, mikedupblog.com, he writes about financial insights for Family & Business, and gives fitness tips for everyone. Mike has a ton of financial pillars for millennials and we’ll be picking his brain!

Hoda Mehr is the co-founder and CEO of StockCard.io. She started Stock Card about a year ago to enable the new generation of stock market investors to make fact-based investment decisions without time-consuming research. She believes the old market wisdom that individual people should not invest in individual stocks. And it’s a thing of the past and she’s trying to equip a new wave of investors with the tools they need to succeed.

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